Tuesday, August 30, 2005
I did not get here yesterday due to time constraints. It was an up day on light volume. Today we were down around 50 points but it was much lower earlier. Oil touched $70 a barrel. Advance/declines were negative but not so much so and the volume picked up a little. I think we need to get higher here. The beginning of September should be OK I think. We should have fell off a cliff today and we didn't. I think it is setting up for a rally. Gold got killed, down $7 today. But the XAU did not sell off much, a little over a dollar. I'm thinking there is nobody left to sell. I have an order in for some September NEM calls. We'll see. My plan is really to get some October gold calls at some point. But I could be wrong. Last week of summer so next week should start to get interesting. Employment report on Friday. Mentally I'm recovering from oral surgery and all is going well for now. I'm feeling better. Market-wise I need to focus again and cannot let outside influences interfere with my trading. Discipline must be adhered to. The next three months of trading will be key for the year. No more stupid mistakes. There is money to be made out there. I've gotta do what it takes to be successful. It's well worth it.
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